UPDATE: AMR Common Stock and Related Listed Securities to be Delisted From New York Stock Exchange
AMR Corporation (NYSE: AMR), the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation, reported that it has received written notification from the New York Stock Exchange advising AMR that its common stock, traded under the symbol AMR, its 9% Debentures due 2016 traded under the symbol AMR 16 and its 7.875% PINES (Public Income Notes) due 2039 traded under the symbol AAR will be suspended from trading on the NYSE, and that the NYSE will apply to the Securities and Exchange Commission to commence delisting procedures for these securities.
The suspension will begin prior to the opening of the market on Thursday, Jan. 5, 2012. NYSE advised AMR that it is taking these steps because the average closing price of AMR's common stock fell below the NYSE's continued listing minimum share price standard of $1 over a consecutive 30-trading-day period.
Due to the company's Chapter 11 filing, AMR is not able to affirm an intent to cure the aforementioned share price deficiency and, accordingly, does not oppose the suspension and delisting of its securities.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.